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Combinations Of Buffer-Stocks And Buffer-Funds For Wool Price Stabilisation In Australia

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  • Moir, Brian
  • Piggott, Roley R.

Abstract

In this paper a preliminary analysis is presented of a combined buffer-fund and buffer-stock as an alternative to a pure buffer-fund or a pure buffer stock for stabilising wool prices. The alternatives analysed are designed so that each provides the same prices to producers as did the Reserve Price Scheme over the period of analysis. Least-cost combinations of policy instruments are derived. The results show that there is considerable potential for cost savings to be made by combining buffer-fund and buffer-stock instruments.

Suggested Citation

  • Moir, Brian & Piggott, Roley R., 1991. "Combinations Of Buffer-Stocks And Buffer-Funds For Wool Price Stabilisation In Australia," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 35(1), pages 1-13, April.
    • Handle: RePEc:ags:ajaeau:22925
    DOI: 10.22004/ag.econ.22925
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    References listed on IDEAS

    as
    1. Simmons, Phil, 1988. "A Theoretical Discussion Of The Economic Effects Of Buffer Stocks And Buffer Funds," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 32(2-3), pages 1-13, August.
    2. Bob Richardson, 1982. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results — A Comment," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 26(1), pages 63-65, April.
    3. Myers, Robert J. & Piggott, Roley R. & Tomek, William G., 1990. "Estimating Sources Of Fluctuations In The Australian Wool Market: An Application Of Var Methods," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 34(3), pages 1-21, December.
    4. John C. Quiggin, 1983. "Wool Price Stabilisation And Profit Risk For Wool Users," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 27(1), pages 31-43, April.
    5. Richardson, Bob, 1982. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results - A Comment," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 26(1), pages 1-3, April.
    6. R. Campbell & B. Gardiner & H. Haszler, 1980. "On The Hidden Revenue Effects Of Wool Price Stabilisation In Australia: Initial Results," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 24(1), pages 1-15, April.
    7. Foster, Max, 1988. "Modelling the Australian Wool Corporation's Costs and Revenues Under the Reserve Price Scheme for Wool," 1988 Conference (32nd), February 8-11, 1988, Melbourne, Australia 144031, Australian Agricultural and Resource Economics Society.
    8. Mike Hinchy & Brian S. Fisher, 1988. "Benefits from Price Stabilization to Producers and Processors: The Australian Buffer-Stock Scheme for Wool," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(3), pages 604-615.
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